High Value Homes

For the average working-to-middle-class homeowner, there are a variety of home insurance policies in the market that would be suitable for their needs. But for the homeowner who has the means to purchase residential property that’s worth $750k or more, they’ll find that traditional home insurance policies don’t provide enough coverage.

Not only do average home policies not offer enough liquid coverage in the event of loss, but they fail to offer features and benefits that high-value property owners require, such as

– Full reconstruction and resesign coverage for even partially-damaged rooms

– Coverage for rare and high-value assets, such as works of art, rare and prized keepsakes, furs, jewels, and wine collections

Beyond this, traditional home insurance policies typically only cover between 50-70% of a home’s property value. These are reasons why people who own high-value properties require the type of comprehensive coverage that high-value home insurance offers.

Insurance for high-value homes is for anyone who has purchased a single-home, a condo, a penthouse, or any other type of property with a typical minimal value of $750k. The insurance is specially designed to offer policy holders a full range of comprehensive coverage that is designed to completely restore not only the property, but the policy holder’s belongings, along with the policy holder’s customary lifestyle.

Along with coverage for the exterior and interior features of a property, high-value insurance policies can come with other features, such as:

-Liability coverage for domestic help employees, should they become injured or otherwise incapable of working in your residence.

– Identity theft coverage

– Kidnapping and ransom coverage

– Medical insurance coverage for pets

– Vacation property coverage

It’s important for policy holders to keep in mind that standard policies won’t cover for customization needs. For example, if a property was built and curated by a high-end architect or designer (and high-end properties usually are), then the property will need to be rebuilt to its original designer specifications. As such, cheap substitutions in materials or fixtures won’t do!

Policy holders of high-value homes will need coverage that allows them to receive cash to purchase original custom materials.